• EUR/AUD eased towards 1.6430 as but losses were limited as investors awaited euro zone inflation data .
• Economists polled expect euro zone inflation to fall to 5.6% in June from 6.1% in May.
• EUR/AUD drops swiftly from 1.5688 to 1.5562. The pair was last trading at 1.6438 .
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is strongly bullish at 61.
• Immediate resistance is located at 1.6575 ( 23.6%fib), any close above will push the pair towards 1.6627 (Higher BB).
• Immediate support is seen at 1.6370 (5DMA) and break below could take the pair towards 1.6318(9DMA).
Recommendation: Good to buy around 1.6430, with stop loss of 1.6350 and target price of 1.6480.
